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Ether posted a sharp 7% gain in the past 24 hours as bitcoinâs steady climb past $109,000 boosted an otherwise flat crypto market.
Dogecoin added over 5% to trade near 19 cents as of Asian afternoon hours Tuesday, while Cardanoâs ADA rose more than 5% as risk appetite returned after last weekâs volatility. Overall market capitalization rose more than 3%, with the broad-based CoinDesk 20 (CD20) adding 4%.
The rebound came as traders continued to digest the latest US-China trade developments and braced for key inflation data this week that could set the tone for interest rate expectations.
âBitcoin surged to around $110K as US-China trade talks resumed while the SEC greenlights new crypto ETFs, giving investors a renewed bullish sentiment,â said Augustine Fan, Head of Insights at SignalPlus, in an email to CoinDesk. âWe anticipate a continuation of the bullish trends as crypto attracts more institutions and retail investors with innovations and competitive returns.â
Kay Lu, CEO of HashKey Eco Labs, said the marketâs reaction to the Trump-Musk spat last week may have been overdone. âWeâre seeing some market recovery as fundamentals remain strong,â Lu said. âThe CPI data on Wednesday could be a key catalyst for price moves.â
Meanwhile, Jeff Mei, COO at BTSE, warned that the current cycle may not be straightforward. âWeâre seeing more options for investors to get crypto exposure, whether through ETFs, corporate treasuries, or stablecoin issuers,â Mei said. âThis cycle will be more nuanced as crypto matures as a macro asset class.â
Nick Ruck, director at LVRG Research, noted that Bitcoinâs price action above $109,000 showed resilience in the face of mixed signals.
âBitcoinâs climb amid geopolitical and macro headwinds reinforces its standing as a macro asset class,â Ruck said. âETF momentum has put crypto back on the radar for mainstream investors.â
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